Business Segments and Operations - As of September 30, 2023, Republic Bancorp operates through five reportable segments: Traditional Banking, Warehouse, Mortgage Banking, TRS, and RCS[233]. - The Bank has 46 banking centers primarily located in Kentucky, with significant operations in Metropolitan Louisville[234]. - The Bank's principal lending activities include retail mortgage lending, commercial lending, and consumer lending, with loans ranging from $200,000 to $4,000,000 for aircraft loans[235][242]. - The Bank's mortgage banking activities involve originating and selling single-family, first-lien residential real estate loans into the secondary market, primarily to FHLMC and FNMA[250]. - The Bank's acquisition strategy aims to selectively grow its franchise alongside organic growth strategies[247]. - The Company plans to dissolve its insurance subsidiary, Republic Insurance Services, Inc., with the dissolution expected in Q4 2023[218]. Financial Performance - Total net income for Q3 2023 was $21.6 million, an increase of $1.7 million compared to Q3 2022[271]. - Diluted EPS rose to $1.10 in Q3 2023 from $1.01 in Q3 2022[271]. - Net income increased by $2.6 million, or 276%, for Q3 2023 compared to Q3 2022[282]. - Total Company net income for the first nine months of 2023 was $70.7 million, a decrease of $1.9 million, or 3%, from the same period in 2022[351]. - Net income increased by $10.5 million, or 43%, for the first nine months of 2023 compared to the same period in 2022[353]. Income and Expenses - Net interest income increased by $847,000, or 2%, in Q3 2023 compared to Q3 2022[275]. - Noninterest income grew by $427,000, or 5%, in Q3 2023 compared to the same period in 2022[275]. - Mortgage banking income decreased by $302,000, or 26%, in Q3 2023 compared to Q3 2022[276]. - Noninterest income decreased by $19.2 million for the first nine months of 2023 compared to the same period in 2022[357]. - Noninterest expense for the Company increased by $1.9 million, or 4%, in Q3 2023 compared to Q3 2022[345]. Credit Losses and Provisions - The adequacy of the Allowance for Credit Losses (ACLL) is evaluated monthly, with significant reliance on historical loss rates and economic forecasts[228][230]. - The provision for credit losses was a net charge of $1.6 million in Q3 2023 compared to a net credit of $753,000 in Q3 2022[275]. - The total company provision was a net charge of $36.6 million for the first nine months of 2023, compared to a net charge of $14.5 million for the same period in 2022[391]. - The Traditional Banking segment's provision was a net charge of $6.4 million for the first nine months of 2023, with an allowance for credit losses (ACLL) of 1.27% as of September 30, 2023[392]. Loan and Deposit Growth - Total Traditional Bank loans increased by $642 million, or 17%, during the first nine months of 2023[353]. - Total Traditional Bank deposits increased by $254 million to $4.3 billion as of September 30, 2023[353]. - The Traditional Bank's average loans grew from $3.7 billion with a yield of 4.23% in Q3 2022 to $4.4 billion with a yield of 5.23% in Q3 2023[294]. Warehouse and Mortgage Banking - Average committed Warehouse lines decreased to $1.0 billion in Q3 2023 from $1.3 billion in Q3 2022[275]. - The Warehouse segment's net interest income decreased by $544,000, or 18%, from Q3 2022 to Q3 2023[298]. - The Bank's mortgage warehouse lines of credit provide short-term, revolving credit facilities to mortgage bankers, with loans typically remaining on the line for an average of 15 to 30 days[248]. Economic Conditions and Future Outlook - The Company anticipates potential impacts from inflation and economic conditions on its operations and financial performance[221]. - The incurred loss rate for RAs associated with the 2023 tax filing season was 3.79%, up from 2.87% for the same period in 2022[322]. Tax Refund Solutions (TRS) Performance - The Tax Refund Solutions (TRS) segment recorded a net charge to the Provision of $19.6 million in the first nine months of 2023, up from $7.0 million in the same period of 2022[397]. - TRS's charge to the Provision for Refund Advances (RAs) was $21.6 million, or 2.92% of $737 million in RAs originated during the first nine months of 2022[398]. - Net interest income within the Tax Refund Solutions (TRS) segment increased by $21.5 million from the first nine months of 2022 to the first nine months of 2023, driven by higher income from prepaid card products and tax-related credit products[375].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0862051 (State or other jurisdiction of incorporation or orga ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0862051 (State or other jurisdiction of incorporation or org ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) incorporation or organization) Kentucky 61-0862051 (State or other jurisdiction of (I.R.S. Employer Identification No.) 601 West Market Street, Louisville, Kentucky 40202 (A ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2022 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0862051 (State of other jurisdiction of incorporation or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0862051 (State of other jurisdiction of incorporation or orga ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2022 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) | Title of each class | | Name of each exchange on which | | --- | --- | ...

(Exact name of registrant as specified in its charter) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. incorporation or organization) Kentucky 61-0862051 (State or other jurisdiction of (I.R.S. Employer Identification No.) 601 West Market Street, Louisville, Kentucky 40202 (A ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2021 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) Kentucky 61-0862051 (State of other jurisdiction of incorporation or ...

Table of Contents For the quarterly period ended June 30, 2021 or ◻ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 0-24649 REPUBLIC BANCORP, INC. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Kentucky 61-0862051 (State of other jurisdiction of incorporation or orga ...